Will money-back guarantee win over wealthy donors?

By DREW LINDSAY of The Chronicle of Philanthropy
Chronicle of Philanthropy

The advocacy group Global Citizen and the finance firm NPX are engineering a new campaign that targets Forbes 400 billionaires, Giving Pledge members, and the wealthy generally — a group increasingly criticized for what is seen as tight purse strings. Initially, the effort aims to raise at least $150 million through six $25 million funds. It also is a test of whether a “pay for results” model can get millions of dollars that are earmarked for social good but sitting on the sidelines — including more than $1.3 trillion in foundation assets, $160 billion in donor-advised funds, and an estimated $700 billion managed by impact-investment firms.